Minister MB Patil invites global firms to invest in Karnataka

Bengaluru: Minister for Large and Medium Industries M B Patil, who is participating in the World Economic Forum (WEF) Annual Meeting in Davos, on Monday held discussions with senior representatives of Menzies Aviation, UPL, The Coca-Cola Company, Tata Sons, Anheuser-Busch InBev (AB InBev) and Natural Fiber Welding (NFW Earth).

In a press statement issued from Davos, the Minister said that Menzies Aviation has already invested $25 million in Bengaluru for the development of cargo handling operations. The company is now exploring opportunities to offer additional services at the Kempegowda International Airport and has expressed its willingness to invest a further $10 million. In addition, Menzies Aviation has shown interest in establishing a Global Capability Centre (GCC) in the State, he said.

The fertiliser major UPL is looking to expand its operations in Karnataka. The company currently has an annual turnover of ₹300 crore in North Karnataka and has now expressed interest in importing potash through the Mangaluru port. It has also proposed promoting maize-based industries in the State. UPL has developed a new technology which can enhance agricultural productivity while reducing the use of urea in farming by 30%. The company has also expressed interest in setting up an ethanol production unit, Patil said.

Last year, The Coca-Cola Company had announced its plans to invest Rs 25,760 crore in India in the coming years. Efforts are being made to attract a significant share of this investment to Karnataka. In this context, the subsidies and incentives available in the State’s industrial sector were explained to the company’s representatives. Given the substantial water requirements for beverage manufacturing, Vijayapura was suggested as a suitable location, Patil said.

AB InBev, which operates a beer manufacturing unit in Mysuru, has expressed interest in further expanding its production in the State.

Meanwhile, Natural Fiber Welding (NFW Earth), which is engaged in developing alternatives to plastic, has decided to invest Rs 1,800 crore in India in the first phase and has agreed to submit its project proposal to the State government shortly.

In a press statement issued from Davos, the Minister said that Menzies Aviation has already invested $25 million in Bengaluru for the development of cargo handling operations.

The high-level delegation accompanying the Minister includes S Selvakumar, Principal Secretary, Department of Industries, and Commissioner Gunjan Krishna, among others.